Advice needed

A question about : Advice needed

Hi,
I'm trying to sort out a bit of a dilemma and not sure the best path to take.

Having just found I have to pay out double for my bank overdraught fee now and trying hard to pay off higher interest accounts first, I'm now faced with either paying my overdraught off to the point I'm just paying off the Ј1 a day limit or paying off a credit card and trying to clear the other debts at high interest.

I'm not sure now which is the higher interest.

The overdraught is now Ј2 a day until its in the black or the credit card is 29.9% apr.

I'm thinking of going to the bank to ask for them to change it so I can repay it off and close the account or do I go to the credit card company with the same tale.

Best answers:

• Hi Cee, thank you for your query regarding Advice needed
  It is difficult to advise you fully without knowing how much you owe or pay interest on your credit card but I would expect the interest you are paying on the overdraft is more that the credit card unless you have a large balance. I would suggest you complete a detailed income and expenditure and see what you have available to offer the credit card and overdraft and consider changing your bank account. If you cannot meet the minimum repayments on your credit card and the interest on your credit card but can make some payment you may want to consider a Debt Management Plan and there are some companies such as Payplan and StepChange who do not charge fees for a Debt Management Plans but not paying the contractual monthly payment may effect your credit rating. You can find more information about negotiating with creditors at www.adviceguide.org.uk.
  Hope this is of assistance
• The interest on the credit card is 29.9% I owe Ј2.300 roughly. I do get my wages paid into another bank account and hoped to pay off the overdraft eventually and maybe return to the Halifax as I switched to Santander a year ago with the Ј100 offer we didn't receive! I didn't really want to leave them as I've numerous saving accounts I can transfer online with.
  I'm receiving Ј2000 to pay off some of my debts from my relative but at this point not sure where to put it so I end up paying less interest and clearing the debt properly.
• Hi Cee
  Youd be best posting on the debt free wannabe section with this question, include the APR of the credit card and the T&C's of your overdraft (which will probably be capped). If you want (and Id recommend this ) then also post a Statement of Affairs at the same time and the helpful people there will suggest ways to cut back. Continuous dipping into overdraft is a sign of over extending your spending.
  No offense intended.
• Non taken,
  Its not continuous dipping per se, my problem started when I used my OD to purchase something after being told I would have a lump sum payout at work re the Agenda For Change and they delayed the payout, inevitably that went belly up from there.
  I have posted over there but will go into more detail now as I was at work earlier, thanks for your advice